Did you know that The Forex or FX Market derives its name from Foreign Exchange. It is essentially the exchange of currency (money) between two different countries. The FX market is the largest financial market in the world, and is open 24 hours per day, 5 days per week. BlackStone Futures provide a User Friendly trading environment in YOUR journey to Profitability on:
- Forex
- Global Equities
- Commodities
- Stock Indices
Click: Join Our Facebook Trading Community!
In the Zone
- US30
- Brent
- USDCAD
Click HERE for Detailed Levels
Today's News Headlines
- The UK continues to proclaim Brexit headlines are overblown – this time eluding to the Northern Ireland border issues. Clearly taking advantage of the Italian crisis within the EU.
Market Recap
The key word yesterday was retracement, in particular the JPY pairs – this is something that we anticipated on Tuesday and were fortunate to take advantage of. Concerns in Italy continues to drive the EUR and the pair once again tested a key psychological level of 1.1550.
Headlines and talking heads are also key in the sterling volatility with the unpredictable nature of Europe and Brexit moving the pound pairs. Boris Johnson is not helping much, as he yesterday he hinted of a prosecution of Theresa May and asking the country to back her in the same sentence. The GBPUSD continues to be moving sideways and it is looking likely that 1.3000 is going to be the line in the sand today.
It is tough to find any opportunity in the currency market at the moment and I continue to look for intraday opportunities in both the Index and energy markets.
Important Economic Data Due Today
10:30 GBP Services PMI
Consensus: 54.0
Effect: Higher than expected is good for the GBP
14:15 USD ADP Non-Farm Employment Change
Consensus: 187K
Effect: Higher than expected is good for the USD
16:00 USD ISM Non-Manufacturing PMI
Consensus: 58.1
Effect: Higher than expected is good for the USD
22:00 USD Fed Chair Powell Speaks
Consensus: None
Effect: More hawkish than expected is good for the USD
[su_divider]
Read Our Most Popular Articles Below, It's Worth It!
